Zinc futures plummeted 1.5 per cent in the domestic market on Thursday as investors and speculators exited positions in the industrial metal amid weak physical demand for Zinc in the domestic spot market. Further, new home prices in China, the world’s biggest metals consumer, fell in May while FDI growth weakened, dampening the demand outlook for the base metal. New home prices in China fell in 41 out of 70 cities tracked by the government survey in May 2015 from the previous month, while China’s outbound FDI grew 7.8 %, year on year in May 2015, missing analysts’ expectations for an annual 8 per cent rise and compared to a 10.5 per cent increase in April 2015 from the same month a year ago.
At the MCX, Zinc futures for June 2015 contract closed at Rs 131.15 per 1 kg, down by 1.50 per cent after opening at Rs 133.35, against the last closing price of Rs 133.45. It touched the intra-day low of Rs 131.10 till the closing.
Morning Trading Calls for 19 June 2015
NIFTY BONANZA
NIFTY BONANZA: BTST BANK NIFTY HIT 1S TGT 17780 CMP BOOK PART PROFIT
NIFTY BONANZA
NIFTY BONANZA: BTST BANK NIFTY HIT FINAL TGT 17880 HIGH OF 17979.90 BOOK FULL PROFIT
ULTRA EQUITY
ULTRA CASH: BUY JUSTDIAL IN THE RANGE 1174-1175 TGTS 1185/1200 SL 1162
NIFTY FUTURES
NIFTY: BUY BANK NIFTY ABOVE 17775 TGTS 17815/17875/17975 SL 17715
ULTRA EQUITY
ULTRA CASH: SELL JSWSTEEL BELOW 885 TGTS 877/867 SL 895
EQUITY TIPS
CASH: BUY RALLIS ABOVE 229 TGTS 231/234/239 SL 226
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